Trakm8 Holdings PLC (AIM:TRAK) shares were bid 11% lower on Thursday after the data-driven fleet-management group posted its latest trading update.
The AIM-listed company said improvements in its insurance business are “taking longer than originally anticipated”, although fleet and optimisation revenues are looking slightly better than expected.
“Trading conditions, particularly within the insurance market, means that the results for the current full financial year continue to remain uncertain, but the board is confident of improving revenues and levels of profitability from recent years,” said executive chairman John Watkins.
Shares were last seen trading at 6.25p each.